Nailwal Launches Stablecoin Campaign for Nepal Flood Relief

India-born tech entrepreneur Sandeep Nailwal has launched a stablecoin-based donation campaign to help people affected by floods in Nepal.

The campaign, powered by Polygon Labs' Open Money Stack, Coinme and Cross River Bank, allows donations through NepalRelief.org. Donors can contribute using stablecoins, which are converted into local currency and sent to the Government of Nepal's Prime Minister Disaster Relief Fund.

Nailwal, co-founder of Polygon Labs, has a personal connection to the campaign as he was born in the Kumaon region of Uttarakhand. He highlighted the close relationship between India and Nepal, with communities on both sides sharing family, cultural, religious, and social links.

The campaign had collected around $173,202 by 9:30 a.m. on Sunday, Nepal time, according to NepalRelief.org. Nailwal urged people across the world to contribute and support Nepal's recovery, emphasizing that blockchain technology can help speed up international donations during humanitarian crises.